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U.S. Department of Justice
Head Of Embattled Processor Indicted For U.S. Political Contribution Scheme
5th Dec 2019 | Written by:
The chief executive of a U.S. payments processor is being charged in connection with an alleged plan to funnel illegal political contributions during the 2016 presidential campaign.
U.S. Regulators Ease Reporting Requirements On Hemp-Related Payments
4th Dec 2019 | Written by:
In response to calls from the banking industry, U.S. regulators have eased reporting requirements for banks servicing client businesses involved in hemp, the low-THC strain of cannabis used for...
U.S. Crypto Expert Accused Of Helping North Korea Evade Sanctions
3rd Dec 2019 | Written by:
An Ethereum Foundation employee has been arrested by U.S. authorities for allegedly teaching attendees of a conference in North Korea how to use cryptocurrency and blockchain technology to evade...
Remittances And Crypto Used In Stolen Card Scheme, U.S. Government Claims
14th Nov 2019 | Written by:
U.S. officials have extradited a Russian national accused of selling stolen credit card data, with authorities alleging that he exploited virtual currencies and money transfer services to accept...
Turkish Bank Says U.S. Sanctions Charges 'Unfair', Politically Motivated
17th Oct 2019 | Written by:
A Turkish bank is fighting back against sanctions evasion charges by U.S. officials, dismissing the allegations as legal overreach and claiming they are motivated by a desire to punish the country...
Crypto Scam Relied On 'Shadow Processor', $1.4trn Lawsuit Alleges
8th Oct 2019 | Written by:
An entity marketing itself as a payment processor is at the center of a lawsuit accusing a cryptocurrency exchange and stablecoin issuer of market manipulation, resulting in damages claims of $1...
Despite Legislative Progress U.S. Cannabis Banking Plan Far From SAFE
2nd Oct 2019 | Written by:
Further legislative and regulatory action is needed to clear the lingering haze around the banking issue facing the U.S.’ legalized cannabis industry, despite the recent passage of a landmark bill...
FinCEN Bolsters Powers To Fight Financial Crime Outside U.S. Borders
29th Aug 2019 | Written by:
The U.S. Treasury Department's Financial Crimes Enforcement Network (FinCEN) has formed a new division to identify money laundering and other financial crime threats stemming from outside American...
Online Gaming Advocate Urges Settlement After DOJ Appeals Wire Act Decision
21st Aug 2019 | Written by:
The online gaming industry appears to have the upper hand in its battle with the U.S. Department of Justice (DOJ) over the U.S. Wire Act of 1961, but a leading gaming attorney in Washington, D.C....
Wildlife Trafficking A $23bn Problem For Financial Firms, Experts Warn
11th Jul 2019 | Written by:
Financial institutions are being urged to stem the flow of illicit funds from illegal wildlife trafficking, which drives as much as $23bn in revenue per year and is set to become an area of focus...
Wire Act Ruling A Win For Gambling Payment Processors
6th Jun 2019 | Written by:
A New Hampshire federal court's ruling that the Wire Act applies only to electronic sports gambling should be a significant reassurance to payment processors and providers operating in other types...
Global Hacking And Money Laundering Gang Taken Down By Authorities
17th May 2019 | Written by:
A gang of international cybercriminals that used a network of malware-infected computers and money mule accounts to attempt the theft of $100m from thousands of victims has been indicted by a U.S....
Justice Department Brief Offers Little Comfort To Payment Processors In Wire Act Case
29th Apr 2019 | Written by:
Payment processors for U.S. lotteries must stay in “wait and see” mode after a recent brief from the Department of Justice offered little clarity for providers grappling with the confusion around...
U.S. Sanctions Purge Continues With Second $1bn Fine
16th Apr 2019 | Written by:
Less than one week after fining Standard Chartered $1.1bn over failures in its sanctions and anti-money laundering controls, U.S. authorities have hit another European bank, UniCredit, with an even...
US: Justice Department Publishes White Paper on CLOUD Act
11th Apr 2019 | Written by:
On April 10, 2019, the Department of Justice published a white paper titled “Promoting Public Safety, Privacy, and the Rule of Law Around the World: The Purpose and Impact of the CLOUD Act”. The...
Standard Chartered To Pay $1.1bn Over AML, Sanctions Failings
10th Apr 2019 | Written by:
Banking giant Standard Chartered will pay a total of $1.1bn in fines to United States and UK authorities after allegations it failed to properly apply anti-money laundering (AML) and sanctions...
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